Longabsent artistic NFTs how are they faring now Seasoned collector New releases are constant creativity remains abundant

Loss of Attraction in the NFT Market
The biggest good news in the cryptocurrency market in 2024 is the passing of Bitcoin spot ETF, and there is also the possibility of Ethereum ETF good news. This has led to an increase in investor optimism, with expectations of new highs for both Bitcoin and Ethereum this year.
However, a recent article in Bloomberg pointed out the disappointing state of the “NFT sector” in the cryptocurrency market, despite rising coin prices, with the floor prices of many popular NFT projects dropping by 40% to 50%. For example, according to NFT Price Floor data, the floor price of Ethereum NFT series CryptoPunks dropped from 41 Ethereum at the lowest point in the market last year to approximately 22.99 Ethereum this year.
Last year’s market conditions were seen by many as quite severe, with some even believing that it had reached the point of a market “winter”.
However, NFT collectors interviewed by Bloomberg have indicated that there is continued trading in the pure art market of NFT, with prices remaining stable, indicating that people still have a passion for works with artistic value.
But what exactly are pure art NFTs? How do they differ from the previously popular Profile Picture (PFP) NFTs? And does the art NFT market really meet investors’ expectations?
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What are pure art NFTs?
Co-founder of the Taiwanese art NFT collection and creation group VolumeDAO
Zhang Baocheng
Explaining, the biggest difference between art NFTs and profile picture NFTs lies in their “purpose” and “mode of expression”.
Blue-chip projects such as Bored Ape Yacht Club and CryptoPunks have a distinct illustration or pixel style, and such NFTs are usually a “crowd-oriented” form of expression, meaning holders can use them as a social media profile picture to show that they belong to a specific community.
Pure art NFTs, on the other hand, focus more on what the artist wants to express. These works may be more abstract and focus on details such as texture, color temperature, and repetition, similar to focusing on the “accompaniment” more than the lyrics in a song. Collectors of art NFTs are concerned not with community or empowerment, but with the artistic value and meaning behind the works, similar to traditional art collectors.
However, Zhang Baocheng emphasizes: “Both types of NFT are a form of art style, and the difference lies only in the purpose of creation and collection.”


objkt.com is one of the main art NFT marketplaces on the TEZOS chain.
Who are the collectors of pure art NFTs?
There are mainly two types of buyers for pure art NFTs. First, collectors who are familiar with traditional art and are curious about NFTs while collecting traditional art works. And second, buyers who like to pursue new things, and may not know much about traditional art but are interested in this emerging form of creation.
In a previous interview, Zhang Baocheng expressed his hope to introduce the traditional art world to blockchain and NFTs through VolumeDAO, and to let people in the Web3 world understand a different kind of blockchain art.
Decrease in trading volume but abundant creative energy
As a senior collector of pure art NFTs, Zhang Baocheng pointed out that the trading volume in the art NFT market is almost the same as the current overall market situation, which is declining. However, there are still a large number of wonderful works being released in the market, indicating an abundance of creative energy.
For digital native artists, NFTs as an art form have an important significance regardless of how they are perceived or priced. Digital native art refers to works where all materials and visual elements come from the digital world, created through coding to produce unique geometric shapes, blocks of color, and lines, known as “generative art”.


Generative art piece “365” created by artist Yazid Azahari.
NFTs provide an appropriate digital presentation for these works, giving digital art pieces independence and autonomy, freeing them from the reliance on physical carriers.
“In the past, digital art pieces often relied on physical screens or USB storage devices for display or collection, and NFTs allow these works to be traded directly on the blockchain and stored in digital wallets, providing a true digital frame for digital art pieces,” explained Zhang Baocheng.
Watch the full interview
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